• XRP hits a crucial resistance trendline at $3.10, eyeing a breakout to higher price targets around $3.40.
• The descending triangle pattern hints at a potential bullish breakout, with XRP set to test key support levels.
• XRP’s inclusion in the Top 100 assets with a $180.08B market cap marks a significant milestone in the crypto world.

XRP is currently in the limelight once again as it has hit an important resistance trendline. Traders will be keeping an eye on whether XRP could sustain its current price in order to confirm a potential bullish trend. The altcoin is trading at $3.02 and is about to surpass the resistance level and approach a new price skyline. 

Source: CoinMarketCap

XRP has already tested the upper trendline at $3.10, and it is consolidating. The technical sections are showing a descending triangle pattern with an ascending line. This means that pressure has the capacity to trigger a breakout. If that XRP manages to support the price above this range, traders could expect the asset to rise towards the first resistance point at the $3.40 price mark.

Also Read: XRP Eyes $3.4 As Whale Transfers $605 Million

XRP Bullish Flag Scenario

On November 20, 2024, analyst Dark Defender discussed this as a prior bullish flag. Similar to the proceeding, the token has been gaining steam in the recent past since it has registered a shuffling up nearly 14.18 percent as it continues to perch in position two at a price of $2.40. The price targets ranged between $3 and $4.39; however, some of the analysts were predicting even further, that it could reach $5.85. The technicals indicate a possibility of a future price explosion.

Source: X

The level of support is imperative at this stage. To remain bullish, altcoin needs to remain above the $3 and $2.85 levels. A drop below the $3 and $2.85 levels could negatively impact the uptrend by potentially triggering a reversal. As long as this support remains, traders are optimistic.

XRP Hits $180 Billion Market Cap

A major milestone that the Ripple token achieved is positioning itself in the top 100 global assets by market cap. Currently, XRP has a market cap of $180.08 billion as it trades at $3.02.

This milestone situates the token side by side with big companies such as Pinduoduo and Deutsche Telekom. It even reached into the #97 position, beating some of the more recognized corporations before once again falling back into the triple digits.

Source: X

This was an improvement of altcoin in the financial ecosystem. Since their inauspicious start, digital currencies have come a long way. The fact that cryptocurrency has been included in the top 100 assets worldwide reflects changes in the attitudes of investors toward cryptocurrencies and their growing recognition. It is a milestone in the history of the token, which is increasingly becoming accepted in the international financial environment.

In the long term, the current strength of coin support levels indicates that the altcoin could see further price action volatility in the coming days and weeks. In case the current price can be maintained, the token could breach the resistance and reach higher price levels. Cryptocurrency traders are keeping an eye on signals of strength that may cause an even greater rally in the market.

Also Read: XRP Targets $3.30 as Legal Victory Boosts Market Confidence